Two major altcoins broke ranks from the broader market on August 22, 2026, suffering sharp intraday drops even as many cryptocurrencies showed mixed signals. AAVE fell 10.73% in a single hour to $114.17, while AVAX tumbled 13.76% within 15 minutes to $7.151, according to market data.
AAVE’s decline was especially notable because it came despite a 12.89% gain over the previous 24 hours. The token hit a 24-hour high of $128.65 before reversing sharply. Trading volume reached approximately $56.41 million, indicating active participation during the sell-off. Traders are now watching support near $114.17 and resistance around $128.65.
AVAX showed a similar pattern of aggressive selling. Its price dropped from $8.292 to $7.151, with hourly losses of 11.68% and a 24-hour change of -2.29%. Volume exceeded $51 million. Key support is seen near $7.00, while resistance sits around $8.00. A break below support could extend declines, while a recovery above $8.00 might restore confidence.
The moves highlight underlying uncertainty in the altcoin market. While no single catalyst was confirmed, traders appear to be reacting to broader sentiment, possible shifts in Bitcoin dominance, and general crypto market cycles. Market participants are likely to remain cautious as volatility persists.
